NEW YORK: Institutional Shareholder Services Inc (ISS) advised Twitter Inc shareholders on Tuesday to vote in favor of the social media company’s $44 billion sale to Elon Musk.
The ISS recommendation was widely expected to be positive, given that technology company valuations plummeted after Musk agreed to buy Twitter for $54.20 per share in April. Twitter’s stock is now trading around $40.
Twitter has sued Musk in a Delaware court after he informed the company that he will not proceed with the deal, claiming he was misled about the number of spam accounts on its platform. Musk has also seized on a Twitter whistleblower’s claims about cyber security issues at the company.